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Rates hold wins praise from firms.

BUSINESS leaders in the West Midlands have praised the decision by the Bank of England's Monetary Policy Committee to keep interest rates at an historic low - and predict a stalemate on rates for up to a year.

The Chamber said the Bank of England should now seriously consider introducing another round of quantitative easing if growth figures did not begin to accelerate. President Christine Braddock said: "Weak domestic consumer demand and a downturn in global trade flows have hit export sales, and because of this it would be prudent for 'quantitative easing' to be considered as an option for the Bank of England should the economy continue to struggle.

"Quantitative easing could provide the kick-start that the economy needs and help the UK economy out of this rough patch. However we still believe that tackling the deficit should be our priority."
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Title Annotation:Business
Publication:Birmingham Mail (England)
Date:Aug 5, 2011
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